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California isn’t collapsing — but it is losing ground where it matters most. Coca-Cola’s factory closures and Reyes Bottling’s consolidation reveal a quiet pullback from manufacturing, driven by rising costs, strict regulations, and corporate shifts toward outsourcing. These aren’t symbolic moves. They mean real job losses, hitting small communities first and hardest. The data pushes back on the panic — but not the pressure. There’s no mass corporate exodus. California still draws tech and biotech giants. Yet manufacturing continues to shrink as a share of the economy, and food-and-beverage plants are vanishing faster than new ones can replace them. The real danger isn’t headlines — it’s uncertainty. Even legacy brands like In-N-Out are expanding beyond California to stay competitive. The issue isn’t that companies are fleeing the state. It’s that more businesses are preparing for a future where California is no longer their only plan.